In the first half of July 2024, the National Consumer Price Index (INPC) registered a variation of 0.71% compared to the previous half; with this result, the annual general inflation in Mexico stood at 5.61%, the highest level since the second half of May 2023, according to information published by the National Institute of Statistics and Geography (Inegi).
The products and services that increased in price in the first half of July 2024 and had the greatest impact on biweekly inflation were: tomato, domestic LP gas, onion, egg, avocado, low-octane gasoline (Magna), air transport, electricity, chayote and orange.
However, the above was partially offset by lower prices for serrano pepper, green tomato, automobiles, grapes, sugar, edible vegetable oils and fats, melon, papaya, guava and pasteurized and fresh milk.
Core inflation
Within the INCP, the core price index (which excludes the prices of more volatile goods and services, such as agricultural and energy products, and allows for a better perspective of the inflation trajectory in the medium term) increased by 0.18% at a biweekly rate and 4.02% at an annual rate.
Within the core index, at a biweekly rate, the prices of goods increased by 0.02% and those of services, by 0.37 percent.
Non-core inflation
The non-core price index showed a biweekly increase of 2.32% and an annual increase of 10.64%.
Within the non-core index, at a biweekly rate, the prices of agricultural products rose by 3.49% and those of energy and government-authorized tariffs by 1.21%.
At an annual rate, it is noteworthy that the prices of agricultural products increased by 14.33%; those of fruits and vegetables 25.69% and those of livestock, 4.82%.
Source: forbes
